Canaccord Genuity looking to get high on weed dealmaking; appoints specialist cannabis dealmaker
Ping! An email arrives in Betaville's inbox from Canaccord Genuity with a press release promoting the fact that it has appointed Shannon Soqui as head of "US Cannabis Investment Banking".
That shocked a few old school City types!
Anyway, if your interested in the detail I have pasted below the rest of the release about the appointment of Shannon Soqui. It contains the usual the corporate jargon and gobbledygook that Betaville suspects is unlikely to impress cannabis consumers...
TORONTO, Jan. 24, 2018 /CNW/ - Canaccord Genuity is pleased to announce the expansion of its leading Cannabis investment banking practice with the addition of Shannon Soqui as Managing Director and Head of U.S. Cannabis Investment Banking.
"We are very pleased to welcome Shannon Soqui, who brings an optimal mix of relationships and expertise to lead the establishment of our dedicated Cannabis capability in the U.S., a development that further reinforces our commitment to our exceptional life sciences practice in the region," said Jeff Barlow, U.S. President for Canaccord Genuity Inc.
"Shannon's appointment represents an important milestone for Canaccord Genuity's deeply established cannabis practice at a time when we are seeing significant cross-border expansion of the investor landscape for this sector, with exciting new companies coming to market and increasing M&A activity," said Pat Burke, President of Canaccord Genuity Capital Markets in Canada.
Canaccord Genuity has been committed to providing best-in-class origination and investment banking capabilities, coupled with ongoing equity research and aftermarket support to the cannabis sector since its emergence as a regulated industry. Since 2016, the firm has helped to raise capital for numerous U.S State regulated and Canadian Federally regulated cannabis licensees. In Canada, Canaccord Genuity was the dominant investment bank for the cannabis sector by number and value of transactions for calendar 2017. The Company is hosting its second annual Cannabis Investor Day in Vancouver, BC today. Participation at this event has doubled since the inaugural conference a year ago, with 30 presenting companies and 900 registered guests from Canada, the U.S., Australia and Europe.
Shannon will be based in San Francisco and will work closely with our existing Cannabis investment banking team, which is led by Steve Winokur, Managing Director, Investment Banking, Graham Saunders, Managing Director and Head of Origination, and Jamie Nagy, Managing Director and Co-Head of Mergers and Acquisitions in Canada. Together, they will deliver a broad range of investment banking services including public offerings, private placements and financial advisory services for emerging and established companies in the cannabis industry. ..
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